According to Jinshi, rating agency Moody's said on June 6 that the credit ratings of at least six regional banks in the United States with large exposure to commercial real estate loans are at risk of being downgraded. These banks include First Merchants Corp., F.N.B. Corp., Fulton Financial Corp., Old National Bancorp, Peapack-Gladstone Financial Corp. and WaFd. Moody's has included the long-term ratings of these banks in the potential downgrade assessment list. Moody's said that as interest rates remain high, exacerbating long-term risks, especially in the downturn cycle, regional banks with a large number of commercial real estate loans face continued asset quality and profitability pressures.
